Amends TCA Title 13, Chapter 14, Part 1.

Tennessee HB0035 amends existing law regarding the financial assistance provided by the state for regional economic development plans and the structure of development districts. It establishes a new MidSouth development district and modifies the funding formula for state appropriations to development districts, increasing the per capita funding levels and introducing a distribution method that considers population size and regional cost of living. The bill affects local governments within the nine development districts by altering the financial contributions and state funding mechanisms for their economic development activities.